(Includes further information)
Nidhi Verma contributed to this article.
Reuters, NEW DELHI, July 1 – According to preliminary sales figures released on Thursday, India’s motor gasoline demand increased in June as economic activity increased following the lifting of pandemic-related restrictions.
Previous month, state-run refineries sold 2.12 million tonnes of gasoline, up 29.35 percent from May and around 5.7 percent from the same time last year.
Gasoil sales increased 18.5 percent from May to 5.36 million tonnes, but were down 1.84 percent from June 2020. Gasoil accounts for nearly two-fifths of India’s entire refined fuel consumption and is closely connected to industrial activity in Asia’s third-largest economy.
Last month, demand for gasoline and gasoil fell 10.4 percent and 18.8 percent, respectively, compared to June 2019.
After being hit by a devastating second wave of coronavirus, India’s fuel demand will rebound to pre-pandemic levels by the end of the year, according to oil minister Dharmendra Pradhan.
Local fuel consumption, a proxy for oil demand, fell to its lowest level since August as a result of lockdowns and travel restrictions in various areas, which slowed movement and dampened economic activity.
About 90% of India’s retail fuel shops are owned by the state-run Indian Oil Corp, Hindustan Petroleum Corp, and Bharat Petroleum Corp Ltd.
The table below shows India’s preliminary daily gasoline sales data in million tonnes.
% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change% change
Gasoline 2.12 29.35 5.66 -10.39 2.12 29.35 5.66 -10.39 2.12 29.35 5.66
5.36 18.51 -1.84 -18.84 -18.84 -18.84 -18.84 -18.84 -18.84 -18.84
0.23 -4.2 9.86 -61.75 gallons of jet fuel
2.24 6.44 9.52 26.31 liquefied liquefied liquefied liquefied liquefied liquefied
Gases from petroleum
(Nidhi Verma contributed reporting, and Subhranshu Sahu edited the piece.)/n
Read More